Crown Castle: Q2 Earnings Snapshot
By AP News
Published - Jul 17, 2024, 04:20 PM ET
Last Updated - Jul 17, 2024, 04:20 PM EDT
HOUSTON (AP) — HOUSTON (AP) — Crown Castle International Corp. (CCI) on Wednesday reported a key measure of profitability in its second quarter. The results missed Wall Street expectations.
The Houston-based real estate investment trust said it had funds from operations of $704 million, or $1.62 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $1.65 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
